After several days of decline, Wall Street entered into bargain hunting. US stocks opened higher in early trading on Tuesday (10th) and then fluctuated. The dollar continued to rise.10-Year U.S. Treasury Yieldfell below 3.00%,WTI CrudeFutures fell below the $100-a-barrel barrier.
As investors digested the remarks released by Fed officials one after another and waited for the April US consumer price index (CPI) to be released on Wednesday, US stocks saw long and short positions in the intraday market.that fingerS&P andhalf feeThe index ended in the red, onlyDow JonesIt closed down slightly by nearly 85 points, falling for four consecutive trading days.
In terms of political and economic news, David Tepper, a well-known Wall Street “bottom hunter” who entered the market after the U.S. stock market bottomed out due to the epidemic in March 2020, settled and sold short.that fingerIt turned into a S&P buyer, suggesting that U.S. stocks have bottomed out, boosting the market’s bullish sentiment on Tuesday.
U.S. President Biden made a statement during the session on Tuesday, pointing out that high inflation is hurting American families, and fighting inflation is the top priority of his term. The government is weighing whether to reduce U.S. tariffs on foreign imports to curb inflation.
Cleveland Fed President Loretta Mester was hawkish on Tuesday, backing a 50 basis point rate hike each at the June and July meetings and never ruling out a 75 basis point hike, arguing the unemployment rate It may have to rise to bring down inflation.
New York Federal Reserve Bank President John Williams said he believed raising interest rates would cool the economy, keeping inflation down to about 2.5% next year while maintaining a strong economy, a daunting but not insurmountable task.
Richmond Fed President Thomas Barkin said the Fed would raise interest rates to levels that neither stimulate nor dampen demand before deciding whether it had to go further.
The United Arab Emirates Energy Minister Suhail Al Mazrouei said in an interview on Tuesday that OPEC is on the energy crisis Treated unfairly, U.S. moves to undermine its existing production system could send oil prices soaring by as much as 300%.
The global epidemic of new coronary pneumonia (COVID-19) continues to spread. Before the deadline, data from Johns Hopkins University in the United States pointed out that the number of confirmed cases worldwide has exceeded 518 million, and the number of deaths has exceeded 6.26 million. More than 11.7 billion vaccine doses have been administered in 184 countries worldwide.
Tedros Adhanom Ghebreyesus, Secretary-General of the World Health Organization (WHO), believes that considering the widespread spread of the omicron variant virus, the Chinese government’s “dynamic clearing” epidemic prevention policy is unsustainable.
The performance of the four major U.S. stock indexes on Tuesday (10th):
- US stocksDow JonesIt was down 84.96 points, or 0.26 percent, at 32,160.74.
- NasdaqThe index gained 114.42 points, or 0.98 percent, to end at 11,737.67.
- S&P 500 IndexUp 9.81 points, or 0.25%, to settle at 4,001.05.
- Philadelphia SemiconductorThe index gained 71.0 points, or 2.51 percent, to end at 2,900.1.
Focus stocks
The five kings of technology stopped falling and rebounded. apple (AAPL-US) rose 1.61%; Meta (formerly Facebook) (FB-US) rose 0.73%; Alphabet (GOOGL-US) rose 1.67%; Amazon (AMZN-US) rose 0.064%; Microsoft (MSFT-US) rose 1.86%.
Dow JonesConstituent stocks were mixed. IBM (IBM-US) fell 3.95%; JPMorgan Chase (JPM-US) fell 2.44%; 3M (MMM-US) fell 2.14 percent; Home Depot (HD-US) fell 1.98%; Salesforce (CRM-US) rose 2.17 percent; Cisco (CSCO-US) rose 1.21 percent.
half feeConstituent stocks rose eye-catching. Microchip Technology (MCHP-US) rose 6.13%; AMD (AMD-US) rose 2.74%; NVIDIA (NVDA-US) rose 3.81%; Qualcomm (QCOM-US) rose 1.40%; Intel (INTC-US) rose 2.18 percent; Applied Materials (AMAT-US) rose 1.35 percent; Micron (MU-US) rose 1.44%; Texas Instruments (TXN-US) rose 2.00%.
Taiwan stock ADR rebounded and rose. TSMC ADR (TSM-US) rose 1.74%; ASE ADR (ASX-US) rose 4.68%; UMC ADR (UMC-US) rose 4.77%; Chunghwa Telecom ADR (CHT US) rose 0.60%.
Corporate News
AI lending platform Upstart (UPST-US), which opened on Tuesday after cutting its full-year revenue outlook, citing rising interest rates and economic uncertaintyavalanche After 60%, it was sluggish and closed down 56.42% to $33.61 per share.
American fitness equipment company Peloton (Peloton) (PTON-US) fell 8.70% to $12.90 a share on Tuesday. Plotton announced before the market that its third quarter financial report for the 2022 fiscal year was poor. Due to the doubling of expenses, the slowdown in demand for fitness equipment, a sharp decline in revenue and a widening loss, the fourth quarter financial forecast was also poor.
TSMC ADR (TSM-US) rose 1.74 percent to $88.82 a share. TSMC announced on Tuesday that its consolidated revenue for April was 172.561 billion yuan, a record high for a single month.At the same time, the TSMC client reported that it has received “TSMC will start from January 2023.full increaseWafer foundry price” notice.
Tesla (TSLA-US) rose 1.64 percent to $800.04 a share. Tesla’s Shanghai Gigafactory resumed some production capacity on April 19 after being shut down for 22 days due to the epidemic, but the factory was shut down again on Tuesday, mainly due to parts supply problems.
Intel (INTC-US) rose 2.18% to $44.01 per share,Dow JonesBest performing stocks on Tuesday. Intel will host two-day “Consecutive Days”Intel Vision“At the event, the company’s CEO Ji Singer hosted a keynote speech, covering various advances in chips, software and services. At the same time, Intel launched two artificial intelligence chips, Gaudi 2 and Greco, which is intended to compete for Nvidia (NVDA-US) dominates the artificial intelligence chip market.
Netflix (NFLX-US) rose 2.63 percent to $177.66 a share. According to the market, Netflix may launch an “advertised” low-cost subscription plan as soon as the end of this year, and at the same time begin to crack down on multiple people sharing accounts.
Wall Street Analysis
Analysts at Goldman Sachs believe that the recent decline has reflected a series of risks that the market is worried about, and the stock market has shown attractiveness from a medium and long-term investment perspective.
Ipek Ozkardeskaya, an analyst at Swissquote Bank, believes that a potential catalyst this week that may finally dampen the market sell-off is the U.S. inflation data released on Wednesday, which is expected to increase the U.S. consumer price index (CPI) in April from 8.5 in March. % fell to 8.1%. Cooling inflation is almost what investors hope for.
The figures are updated before the deadline, please refer to the actual quotation.